Product details

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Abstract

Since 1974, the Multifibre Arrangement (MFA) had been the systematic means for developed countries to restrict textiles and clothing imports from developing countries, which did not conform to the GATT/WTO rules. In 1994, however, the Agreement on Textiles and Clothing was signed, prescribing a 10-year progressive phase-out of the MFA and integration into GATT 1994 rules. By late 2004, the complete phase-out of the MFA on 1 January 2005 had rekindled the debate between protectionists and free-trade advocates. Meanwhile, firms in Hong Kong, one of the world's major textiles and clothing exporting nations, were gearing up for the change.
Location:
Other setting(s):
3rd quarter of 2004

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Abstract

Since 1974, the Multifibre Arrangement (MFA) had been the systematic means for developed countries to restrict textiles and clothing imports from developing countries, which did not conform to the GATT/WTO rules. In 1994, however, the Agreement on Textiles and Clothing was signed, prescribing a 10-year progressive phase-out of the MFA and integration into GATT 1994 rules. By late 2004, the complete phase-out of the MFA on 1 January 2005 had rekindled the debate between protectionists and free-trade advocates. Meanwhile, firms in Hong Kong, one of the world's major textiles and clothing exporting nations, were gearing up for the change.

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Location:
Other setting(s):
3rd quarter of 2004

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